New York, Feb 10, 2026, 10:31 EST — Regular session
- Intel dropped roughly 3% in morning trading, after opening just shy of $50.
- Disappointing U.S. retail sales numbers have traders looking ahead to jobs and inflation releases later this week.
- Policy uncertainty is back in focus after a report floated the idea of chip-tariff carve-outs for Big Tech.
Intel dropped $1.54, slipping roughly 3.1% to $48.70 during Tuesday morning trading. Shares started out at $50.37 before ranging from $48.38 to $50.50. Volume hit around 22 million shares.
The drop catches attention—chip stocks are back to moving with the broader market. Right now, investors are weighing whether the AI expansion brings a lasting boost, or if the costs land before any rewards materialize.
December’s U.S. retail sales landed flat—no change, contrary to what many expected, according to the latest data. The number drops just as a string of economic reports is set to hit this week, potentially nudging the Federal Reserve’s next move. “It’s really the retail sales data that’s come out below expectations,” noted Charlie Ripley, vice president of portfolio management at Allianz Investment Management. Later on Tuesday, Fed officials Beth Hammack and Lorie Logan are set to speak. 1
Chip stocks showed a mixed picture. Nvidia slipped roughly 0.4%. Advanced Micro Devices barely budged.
Policy news turned up fresh wrinkles. According to the Financial Times, the Trump administration is looking to exempt companies like Amazon, Google, and Microsoft from a new round of tariffs on chips critical for powering AI data centers. The carve-outs, set to come from the Commerce Department, would depend on investment pledges from Taiwan Semiconductor Manufacturing Co, the report said. Still, the plans remain unsettled and haven’t been signed off by Trump. 2
Semiconductors are still seeing choppy action beyond the main AI names. Onsemi came up short on revenue for the quarter, citing an ongoing inventory overhang, with certain segments slumping up to 17%. The stock slid close to 6% after hours. 3
Intel, still working to prove it can convert AI-driven interest into real sales and profit, told investors on Jan. 22 that it’s having trouble keeping up with demand for server chips targeting AI data centers. The company projected first-quarter revenue between $11.7 billion and $12.7 billion—short of the $12.51 billion analysts had expected on average. “In the short term, I’m disappointed that we are not able to fully meet the demand in our markets,” Chief Executive Officer Lip-Bu Tan said. 4
Tech stocks have been unsettled after last week’s AI-driven drop, but a rebound sent the Nasdaq climbing 0.9% on Monday. “You’ve a sharply oversold market where a little bit of good news can go a long way,” said Keith Lerner, chief investment officer at Truist Advisory Services. Eyes are now on the delayed January jobs numbers out Wednesday, the January CPI on Friday, and Nvidia’s upcoming earnings. 5
Intel faces a squeeze here: weaker economic numbers could shove investors toward defensive positions, but if inflation runs hotter, rate-cut hopes get pushed further out. Chip stocks don’t wait around. Intel’s still under pressure to show it can handle customer demand—and avoid another guidance downgrade.
INTC traders are watching the U.S. jobs data due Feb. 11, then turning to the CPI release two days later on Feb. 13. Fresh signals from Washington about tariff carve-outs also stay front of mind.
